Brief Technical Analysis of Silver

This blog is aimed at providing the users with daily brief technical analysis and forecast for silver with precise technical levels allowing the users to be always on the forefront by offering a clear technical outlook for silver.

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Sunday, August 17, 2014

Our previous updates pointed out towards the nearing completion of the upward price action. Correction towards the 20.40 - 20.00 was expected but the correction so far has been greater than expected (Current price : 19.56). A breach of 19.15 - 19.00 will change the medium term trend from bullish to neutral( with a bearish tilt). Support - 19.28

Tuesday, May 6, 2014

Prices recently reached a low of 18.85 and strongly retraced back to 19.68. The price zone at 18.69-18.20 remains an important price area. A break of this zone would give way for much lower prices with the initial target being 17.25-17.05 zone. On the daily price chart we have a morning star candlestick pattern formation which portends a bullish move ahead. The low of the pattern is at 18.85 close enough to the 18.69-18.20 price area which has contained all the major lows since July 2013. At this juncture the initial target for the upside move is at the 20.40 level.

P.S:However at this point of time we consider the bearish case to be an alternative scenario.Happy Trading..